ACC 504 - 07/A1
Individual Project #4
Due March 5, 2008
Prepare a complete answer to problem #59 on pages 272-273 of the textbook regarding system analysis and internal controls, as explained below:
Part 1 - Prepare a complete and clear analytic flowchart fully describing the system now in place (ignore proposed changes to the computer system).
Part 2 - Internal controls weakness and improvement list.
There are many specific control weaknesses. You must identify as many as possible and specify a solution for each
Example:
1. Weakness: The town treasurer counts the cash alone.
Solution: All cash counts should be done by two independent parties. They should prepare a cash count record and both initial it. Cash count record should be delivered to the general accounting department.
- 1/06/2008 -